BCE Inc. (BCE) Price Target Raised to C$61.00 at Scotiabank
BCE Inc. (TSE:BCE) (NYSE:BCE) had its target price hoisted by research analysts at Scotiabank from C$60.00 to C$61.00 in a research note issued on Friday. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 0.69% from the stock’s previous close.
Several other research firms have also recently commented on BCE. Desjardins upped their target price on shares of BCE from C$65.00 to C$66.00 in a research note on Friday. J P Morgan Chase & Co dropped their price objective on shares of BCE from C$66.00 to C$65.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. Barclays PLC increased their price objective on shares of BCE from C$64.00 to C$65.00 in a research note on Friday. TD Securities dropped their price objective on shares of BCE from C$59.00 to C$58.00 and set a “hold” rating for the company in a research note on Monday, September 25th. Finally, Royal Bank Of Canada increased their price objective on shares of BCE from C$61.00 to C$62.00 and gave the company a “sector perform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$62.62.
BCE (TSE:BCE) traded up C$0.11 during trading hours on Friday, reaching C$60.58. 956,628 shares of the company traded hands, compared to its average volume of 1,160,000. BCE has a 1 year low of C$56.80 and a 1 year high of C$63.00.
BCE (TSE:BCE) (NYSE:BCE) last released its earnings results on Thursday, August 3rd. The company reported C$0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.87 by C$0.01. The firm had revenue of C$5.70 billion during the quarter, compared to analysts’ expectations of C$5.62 billion. BCE had a net margin of 14.23% and a return on equity of 20.64%.
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In other news, Director Katherine M. Lee bought 2,000 shares of the stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of C$58.91 per share, with a total value of C$117,820.00. Also, insider Blaik Kirby sold 6,498 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of C$59.30, for a total transaction of C$385,331.40.
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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